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Thursday, 2 March 2017

MIDEAST STOCKS-Gradual tax plan boosts Egypt, ex-dividend shares hit Dubai | Reuters

MIDEAST STOCKS-Gradual tax plan boosts Egypt, ex-dividend shares hit Dubai | Reuters:

"Egypt's stock market rose sharply on Thursday after the finance minister said he would propose only a gradual introduction of a stamp duty on transactions, while stocks going ex-dividend dragged down Dubai. The Egyptian index climbed 2.6 percent as blue chip Global Telecom jumped 7.6 percent. Amr al-Garhy told Reuters on Wednesday that he would propose a duty starting at 1.25 Egyptian pounds ($0.08) per 1,000 to the government next week, rising to 1.5 pounds in the second year of implementation and 1.75 pounds in the third."



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